(May 7 – 17:40 ET) – New research shows that young single women know all about investing, but most don’t bother to do it. The survey by U.S.-based OppenheimerFunds Inc. tags this demographic segment as a great untapped opportunity for financial advisors.

According to the survey, 26% of young women say they use a financial advisor. “In recent years, financial advisors have played a growing role in encouraging and helping women to take responsibility for their finances,” said Bridget Macaskill, OppenheimerFunds chairman and CEO.

“We think there is a particular opportunity for advisors with the current generation of young women. Young women today are much more financially aware and motivated than previous generations. That’s why they constitute a natural constituency for financial advice,” she added.

The logical place for advisors and Gen X women to begin the discussion may be the workplace. The survey finds that 51% of Gen X women eligible to participate in their employers’ retirement plan have never attended an information or enrollment meeting.

“Qualified retirement plans are where the need for a meaningful financial planning discussion meets the opportunity to have one. We think there may be a particular opportunity with small companies, which employ large numbers of women and which, frequently, are hard-pressed to provide much in the way of financial education”, said Macaskill.

The survey was commissioned by OppenheimerFunds, and was conducted in association with Third Millennium, an advocacy group for young Americans, and the Sutra Foundation, a non-profit foundation that seeks to empower Gen X women through financial education. The survey of single Gen X women was part of a larger survey of 1,205 Americans age 21 to 34 conducted by the national polling firm of Yankelovich Partners Inc.

It found that although single women think about retirement, their desire for short-term gratification often takes precedence. For example, one half of single women surveyed said that at this point in their lives money is for spending and not saving. Three out of four women said it was important to look successful and 54% said they were likely to accumulate 30 pairs of shoes before accumulating $30,000 in retirement savings.

Significantly more single young women say they live paycheck to paycheck than do single young men. Credit cards were pegged as a particular source of fiscal woe. “Financial services providers should market saving and investing with all the savvy and imagination with which they sell credit cards to young people.” said Vanessa Summers, founder of the Sutra Foundation.

Single Gen X women say they would save more with a little guidance and encouragement. Two-thirds of Gen X single women not currently saving for retirement said learning how to better manage their debts would strongly motivate them to start saving.

The survey found that although single young women have been slow to use financial advisors, their attitudes toward them have improved. Currently 34% of single young women believe women are treated with as much respect by financial advisors as men are — that compares with 25% in OppenheimerFunds’ 1992 research.

“The big picture is perceived — young women need to be accountable for their financial futures and need to start now,” Macaskill said. “But Gen Xers — men and women alike – still need to do their homework. When it comes to money and investing, the learning is just beginning.”